SOURCE: Total Debt Relief

December 08, 2009 15:58 ET

Bankruptcy & Your Credit Report: Total Debt Relief Explains

Consumer Advocate Breaks Down the Relationship Between the Effects of a Bankruptcy Filing and a Consumer's All-Important Credit Report

CHICAGO, IL--(Marketwire - December 8, 2009) - FICO (Fair Isaac Corporation), the credit reporting agency, recently revealed for the first time how certain, specific credit mistakes affect a consumer's credit report. Chief among the most damaging incidents to negatively affect a consumer's credit report is bankruptcy.

FICO has revealed that a personal bankruptcy filing can cause an immediate drop of up to 260 points on a consumer's credit report. This damage to one's credit report cannot be overstated. It is serious, harmful and long lasting.

Unfortunately, too many consumers who are dealing with the fallout of large amounts of credit card debt coupled with an economy in recession have fallen for the pitch from bankruptcy lawyers falsely painting bankruptcy as a way and means to get a fresh start.

Total Debt Relief wishes to stress to consumers that when it comes to dealing with credit card debt -- better options exist to reduce and eliminate this credit card debt without the need for a bankruptcy filing and all the collateral damage it causes.

Chief among the other various, competing debt relief programs offered today is Debt Settlement. This program has shown the ability to provide spectacular results in the amount of credit card debt that is reduced and eliminated.

In a typical debt settlement, consumers can expect to receive credit card debt reduction at the 50% level, with credit card debt reductions of up to 70% becoming more and more common. These debt reductions are achieved without bankruptcy and all its harsh consequences, and without the need for a debt consolidation/home equity loan, which itself is risky strategy.

Total Debt Relief offers consumers a free debt evaluation which they can take advantage of at the company's website:

Contact Information

  • Contact:

    John Chase
    877-224-2950 x 7016